CHIL - International Report: Q3 2020

• Following a global rally in Q2 which saw strong performance in the US and in international equity markets, Q3 exhibited greater divergence.
• Each economy took different approaches to fiscal and monetary stimulus and containing the spread of COVID-19, driving varying results in GDP growth, corporate profitability, and ultimately equity returns.
• From a high level, the US-based S&P 500 outperformed international developed equity markets during the quarter, returning 8.93% versus 8.13% for the MSCI ACWI Index.
• Yet emerging markets exceeded both, with the MSCI Emerging Markets Index rising 9.56%, driven by strong growth from China.
• Within Global X's suite of single country and regional ETFs, five outperformed the MSCI All World Country Index while seven lagged.

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